Understanding Credit Agreement Basics Credit Suisse

14 avril 2021 par  
Classé dans Non classé

Good morning, good morning. Thank you for asking the question. So I think that in terms of strategy, management has to compensate for the advantages of a local focus over a centralized focus. With IB, you have obviously travelled the central route and gathered many different geographical functions. But with Wealth Management, you`ve stayed local, which is quite the opposite of one of your peers. I`m just wondering what you think of consolidating your global wealth management functions. Secondly, you naturally benefited from the CET1 ratio, with credit reductions repaid. Wondering if it`s an episode of the year, the third trimester, or are we there most often? Let`s move on to our divisional performance and start with the Swiss Universal Bank. Our Swiss universal bank made a pre-tax profit of CHF 687 million, an increase of 5% compared to the same period of the previous year. It includes a profit of CHF 134 million from the revaluation of our interest in the mortgage bank in the second quarter of 2020. Revenue increased 2% to CHF1.5 billion, driven by higher sales from International Trading Solutions, or ITS, and higher sales in our ultra-high net asset segment as well as revaluation earnings. We took additional provisions for credit losses of CHF 30 million compared to CHF 124 million in the first quarter, and this increase was mainly driven by our consumer finance business in Switzerland. Let me now turn to the Asia-Pacific region.

Our Asia-Pacific division experienced strong growth in the second quarter, with a 26% improvement in upstream order yield to CHF 298 million, reaching its highest level since 2015, with net sales up 17% from the previous year to CHF1.1 billion. As our costs are broadly stable, the cost-to-income ratio decreased by 10% compared to the previous year. Driven primarily by strong markets and IBCM`s performance, which offset an increase in credit provisions, these figures yielded a 22% return for the quarter.

Rendez-vous sur Hellocoton !

Les commentaires sont désactivés pour cet article.